Career and Education Opportunities for Credit Analysts in Laredo, Texas
For those living in the Laredo, Texas area, there are many career and education opportunities for credit analysts. There are currently 5,070 jobs for credit analysts in Texas and this is projected to grow by 6% to 5,360 jobs by 2016. This is not quite as good as the national trend for credit analysts, which sees this job pool growing by about 15.0% over the next eight years. Credit analysts generally analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money.
Credit analysts earn approximately $25 hourly or $53,520 annually on average in Texas. Nationally they average about $26 per hour or $55,250 yearly. Earnings for credit analysts are not quite as good as earnings in the general category of Accounting and Auditing in Texas and not quite as good as general Accounting and Auditing category earnings nationally. Credit analysts work in a variety of jobs, including: loan review analyst, credit and collections analyst, and credit risk analyst.
There is one school within twenty-five miles of Laredo where you can study to be a credit analyst, among five schools of higher education total in the Laredo area. The most common level of education for credit analysts is a Bachelor's degree. You can expect to spend about four years studying to be a credit analyst if you already have a high school diploma.
CAREER DESCRIPTION: Credit Analyst
In general, credit analysts analyze current credit data and financial statements of individuals or firms to determine the degree of risk involved in extending credit or lending money. They also prepare reports with this credit information for use in decision-making.
Credit analysts analyze credit data and financial statements to establish the degree of risk involved in extending credit or lending money. They also compare liquidity and credit histories of establishments being evaluated with those of similar establishments in the same industries and geographic locations. Finally, credit analysts talk with credit associations and other business representatives to exchange credit data.
Every day, credit analysts are expected to be able to think through problems and come up with general rules. They need to articulate ideas and problems. It is also important that they deal with basic arithmetic problems.
It is important for credit analysts to generate financial ratios, using computer programs, to review customers' financial status. They are often called upon to confer with customers to deal with complaints and verify financial and credit transactions. They also ready reports that include the degree of risk involved in extending credit or lending money. They are sometimes expected to inspect individual or commercial customer files to pinpoint and decide on delinquent accounts for collection. Somewhat less frequently, credit analysts are also expected to analyze financial data such as income growth, quality of management, and market share to establish expected profitability of loans.
They also have to be able to analyze financial data such as income growth, quality of management, and market share to establish expected profitability of loans and evaluate customer records and recommend payment plans on the basis of earnings and purchase activity. And finally, they sometimes have to analyze credit data and financial statements to establish the degree of risk involved in extending credit or lending money.
Like many other jobs, credit analysts must have exceptional integrity and be thorough and dependable.
Similar jobs with educational opportunities in Laredo include:
- Accountant. Analyze financial information and prepare financial reports to determine or maintain records of assets, liabilities, profit and loss, tax liability, or other financial activities within an organization.
- Assessor. Appraise real and personal property to determine its fair value. May assess taxes in accordance with prescribed schedules.
- Auditor. Examine and analyze accounting records to determine financial status of establishment and prepare financial reports concerning operating procedures.
- Budget Analyst. Examine budget estimates for completeness, accuracy, and conformance with procedures and regulations. Analyze budgeting and accounting reports for the purpose of maintaining expenditure controls.
- Cost Analyst. Prepare cost estimates for product manufacturing, construction projects, or services to aid management in bidding on or determining price of product or service. May specialize according to particular service performed or type of product manufactured.
- Financial Analyst. Conduct quantitative analyses of information affecting investment programs of public or private institutions.
- Financial Examiner. Enforce or ensure compliance with laws and regulations governing financial and securities institutions and financial and real estate transactions. May examine, verify correctness of, or establish authenticity of records.
- Income Tax Advisor. Prepare tax returns for individuals or small businesses but do not have the background or responsibilities of an accredited or certified public accountant.
- Loan Counselor. Provide guidance to prospective loan applicants who have problems qualifying for traditional loans. Guidance may include determining the best type of loan and explaining loan requirements or restrictions.
- Loan Officer. Evaluate, authorize, or recommend approval of commercial, real estate, or credit loans. Advise borrowers on financial status and methods of payments. Includes mortgage loan officers and agents, collection analysts, loan servicing officers, and loan underwriters.
- Personal Financial Planner. Advise clients on financial plans utilizing knowledge of tax and investment strategies, securities, and real estate. Duties include assessing clients' assets, liabilities, and financial objectives to establish investment strategies.
- Real Estate Appraiser. Appraise real property to determine its value for purchase, sales, or loan purposes.
- Tax Examiner. Determine tax liability or collect taxes from individuals or business firms according to prescribed laws and regulations.
EDUCATIONAL OPPORTUNITIES: Credit Analyst Training
Texas A & M International University - Laredo, TX
Texas A & M International University, 5201 University Blvd, Laredo, TX 78041-1900. Texas A & M International University is a medium sized university located in Laredo, Texas. It is a public school with primarily 4-year or above programs. It has 5,859 students and an admission rate of 63%. Texas A & M International University has 2 areas of study related to Credit Analyst. They are:
- Accounting, bachelor's degree and master's degree which graduated thirty-seven and twenty-one students respectively in 2008.
- Finance, bachelor's degree which graduated 19 students in 2008.
LOCATION INFORMATION: Laredo, Texas
Laredo is situated in Webb County, Texas. It has a population of over 221,659, which has grown by 25.5% over the last ten years. The cost of living index in Laredo, 81, is well below the national average. New single-family homes in Laredo cost $137,000 on average, which is well below the state average. In 2008, six hundred sixty-eight new homes were constructed in Laredo, down from 1,257 the previous year.
The three big industries for women in Laredo are educational services, health care, and accommodation and food services. For men, it is construction, other transportation, and support activities, and couriers, and public administration. The average commute to work is about 21 minutes. More than 14.7% of Laredo residents have a bachelor's degree, which is lower than the state average. The percentage of residents with a graduate degree, 5.6%, is lower than the state average.
The unemployment rate in Laredo is 8.1%, which is the same as Texas's average of 8.1%.
The percentage of Laredo residents that are affiliated with a religious congregation, 73.6%, is more than both the national and state average. El Buen Pastor Assembly of God Church, El Mesias United Methodist Church and Heights Baptist Church are among the churches located in Laredo. The largest religious groups are the Catholic Church, the Assemblies of God and the Southern Baptist Convention.
Laredo is home to the Webb County Courthouse and the Dolores Ranch as well as Shirley Field and Laredo Entertainment Center. Visitors to Laredo can choose from Blue Caribbean Ventures, Motel 9 and Bender Hotel for temporary stays in the area.